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Fixing old house, worth doing?
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Posted 4/10/2024 06:54 (#10701257 - in reply to #10700316)
Subject: RE: Fixing old house, worth doing?


Malta, Illinois		My vote would be for tearing it down. Being a landlord is an absolute pain in the butt. The only way I would keep it is if one of your kids wants to live there or if you have a very loyal hired man that you know you can trust to take care of the place and not tear it up. If you have a revolving door of hired men I would be very skeptical of that working well. For the right person a house being provided would be a huge bonus but that doesn't mean they will take care of it. What kind of work are you going to get done for $18,000? My limited experience with contractors the past several years tells me it won't get you much. It will be a nonstop money pit going forward as well. If it helps you attract a very loyal and conscientious employee that you know will stick with you for a long time, it might be worth it. Otherwise, get an excavator in there and get to work.
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